The statements of financial position of Axis plc as at 31 December 2020 and 2021 and the

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The statements of financial position of Axis plc as at 31 December 2020 and 2021 and the income statement for the year ended 31 December 2021 were as follows:

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1 During the year, plant (a non-current asset) costing £15 million and with accumulated depreciation of £10 million was sold.
2 The short-term investments were government securities, where there was little or no risk of loss of value.
3 The expense and the cash outflow for interest payable were equal.
4 During 2021 a dividend of £14 million was paid.
Required:

(a) Prepare a statement of cash flows for Axis plc for the year ended 31 December 2021.

(b) Prepare a reconciliation of liabilities from financing activities for the year ended 31 December 2021.

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Financial Accounting For Decision Makers

ISBN: 9781292409184

10th Edition

Authors: Peter Atrill, Eddie McLaney

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